Category / market failure

Analysis piece originally published by Jacobin magazine and syndicated in Salon on 29 June, 2013.

The pharmaceutical industry, like oil companies and arms manufacturers, isn’t viewed highly in the public imagination.

And for good reason. There is growing awareness of an inherent conflict of interest in the testing of drugs by the companies that manufacture them — like Pfizer, Merck and Eli Lilly — and a steady stream of tales from journalists, researchers and doctors of deliberately dodgy trials, buried unfavorable results, and purchased academic journals.

Yet the greatest crime of the world’s major private pharmaceutical companies is not what they do, but what they don’t do. In the ongoing war against bugs and infection, these companies have abandoned their posts at the most critical time: when the enemy is mounting its most ferocious attack in generations. As these firms continue to shirk their duties — effectively abandoning antibiotic research for some 30 years now — senior public health officials are warning that the world could soon return to the pre-antibiotic era, a miserable, fearful time that few people alive now remember. Continue reading →